Buying hunting ground.

I came across some land for sale this morning.It's not much, around 25 acres with a little open ground and a pond,has lots of crop fields all the way around it.but it is in one heck of an area..From what I have been reading they say raw land loans are the hardest ones to get with big down payments like 20%.Anyone have any advice on how to go about this?It's been a dream of mine to have my own land.It would be an investment to me,and I wouldn't walk away from it ( I guess most banks think these types of loans are the easiest one for people to walk away on),I would more than likely build my dream cabin on it.

I really don't have any good advice for ya Darin. But good luck on the property.

Looks good! Good luck on getting it. I hope to own my own land one day too!

good luck getting it

you will most likely need 20% down....... looks like awesome land!!!

Mark wrote:

you will most likely need 20% down....... looks like awesome land!!!

I was thinking that same thing, but didn't know for sure.

Ill have the wife try and find out about it. she is a realestate agent

Well,I went and checked the ground out today.The bad thing about google maps is that most the pics aren't really recent ones.The place has been logged out big time and it pretty much on a bluff.Not quite what I'm looking for.There is 2 more properties in the williams area I'm wanting to check out.I'll find the right place sooner or later.

Yeah, I'm on the same trail as you, just a step ehind you. I have the wife about ready to start investing in a little land, you know its a etter retirement investment than stocks (I keep telling her ). I've looked at some land zoned recreation only, and some smaller parcells joining forest land. Hopefully within the year I'll be amking some offers. I didn't know aout the 20% down, but I think 10 years is a more average mortgage on bare land.

I can offer a little insight on this topic. Usually you need a minimum of 20% down and is probably more like 25% if you use farm credit services. Many lenders also want you to sign an intent to build letter. This just says at some point in the future I may put a residence on the property. I was able to shop around and found a 15% lender with no intent to build required. This was a small town bank in the area I bought my property. Find the right ground and I think it will outperform the stock market over the next several years.

dg1 wrote:

I can offer a little insight on this topic. Usually you need a minimum of 20% down and is probably more like 25% if you use farm credit services. Many lenders also want you to sign an intent to build letter. This just says at some point in the future I may put a residence on the property. I was able to shop around and found a 15% lender with no intent to build required. This was a small town bank in the area I bought my property. Find the right ground and I think it will outperform the stock market over the next several years.

Good luck Darin. I am always looking at property and coming up with creative ways to buy it. dg1 mentioned small town banks. (YES) The community banks are more likely to lend and if you find the right property some times you can work owner financing and some are willing to deal with the shape the market is in. Well atleast around here.

Yeah Snivs is right the way the market is they might be able to work with you a little.